BY MIA BLOCHER, Huntington Herald-Press
After 62 years of operation, the rubber molding plant best known as IMCO Inc. plans to close its doors within the next 60 to 90 days.
IMCO's former CEO Ray Meyer, whose father purchased IMCO in 1958, said the company was bought out by BRC Rubber & Plastics on April 17.
"We had a big sales decline like most people did. We're eighty percent automotive," Meyer said, explaining BRC hired nearly all IMCO employees, which currently number about 85. "The original plan was to decide after six months (if the plant should stay open)," Meyers said. "But (BRC) could decide sooner or later than that. It's totally up to them. I'm hoping of course that they stay because Huntington needs the employment."
BRC Vice President of Human Resources Thom Maher confirmed Friday the plant will be closing down.
"We have five other plants in Indiana and it's our goal to move the work from the IMCO operation into our other plants where we have our other employees laid-off," Maher explained. "The IMCO employees have been absolutely great people to work with. It's just a shame things have worked out the way they have regarding their operation. It's just the nature of being an automotive supplier."
Maher said all current IMCO employees will be placed on a preferential-hiring list for any future BRC employment opportunities.
Mark Wickersham, Huntington County United Economic Development executive director, said IMCO loss is unfortunate for the Huntington community.
"IMCO is a classic case of the downturn of the economy in the auto industry and the credit markets," Wickersham explained. "President Obama promised there are going to be more layoffs before a solid recovery. We're likely to see that. In our local market we are not exempt from what's going on."